Tuesday, July 11, 2006

My net worth at the end of June was $285,653, up almost $30,000 since the end of last year but still pretty dismal over the last couple of months. If I hadn't cashed out all those stocks and mutual funds in April, it would have been worse, though!My net worth includes:about $155,200 in retirement savingsabout $13,500 in stocks and mutual fundsabout $4,300 in I-Bondsa credit card at about -$2,000the rest is cash, CDs, and a 10% deposit on my condo

My expenses for the month were quite high:Clothing: I finally bought some! $291, though some of that will show up as a return next monthDining: really high at $984, due to going out a lot, mostly while my friend visitedEntertainment: high at $177, again due to friend's visitTravel: $1,151-- this is high for the month, but I'm still well under budget for the year.Other categories were pretty much in line or under budget.My total non-tax, non-business expenses were $3,836. Year to date, my average monthly expense amount works out to about $2,700. I like to compare this expense amount to my take-home pay, which is just under $4,000 a month (not counting 401k, flexible spending account, etc.) I aim to save at least $1,000 a month out of my paycheck. Then any interest I earn is gravy on top of that. This month was an "ouch" because I only saved about $89 out of my paycheck. The next few months will also probably be "ouches" as I start getting into moving expenses, etc., and higher housing costs that will take a bigger bit out of my paycheck up front. So I'm going to grit my teeth and try to get on the austerity program for a while!

I hate to tell you this, but in the course of moving into a new home, especially one that you just puchased, it is near impossible to save money during the transition. Figure about one year of seeing money disappear from your wallet faster than you can count it.

Moving costs, eating out while your kitchen is a mess costs, furnishing costs, new window treatments costs, etc. Keeping track of expenses is that much more difficult when your life is in total disarray.

Hope you fair better than I have with moving.

BTW, how did your interim housing situation turn out? Last we heard you had to be out soon.

About Me

My name is Madame X, and I am a 40-something single woman living in New York's lower Hudson Valley. I write about how much money I make, what I spend it on, how much I save, how I budget, my home-buying experiences, my financial goals and ambitions, my thoughts on class and what it means to be rich or poor, and anything else that relates to money. (More about me here, here, and here.)If you take any of my advice, do so at your own risk as I am not really qualified to give it. If you have advice to share, please do, and many thanks!